Defence stocks: HAL poised for a historic peak; BDL, BEL test key levels

HAL sets to hit new all-time and may rise up to 9 per cent. BDL and BEL need to cross key hurdles to breakout.

Shares of Defence companies are in the spotlight, following the signing of major MoUs (Memorandum of Understanding) for various projects. Bharat Electronics has signed an agreement with Isarel Aerospace Industies (IAI) for manufacturing its artillery weapon system domestically, boosting “Make in India” initiative.

Similarly, Hindustan Aeronautics signed an agreement with Safran Helicopter Engines for jointly developing helicopters engines.

Bharat Dynamics signed 10 MoUs with several foreign and Indian companies like Thales, EDGE group entity, AL TARIQ, UAE involving setting up manufacturing facilities for rockets, engineering components, and other precision guided munition in India. 

This development led shares of Bharat Dynamics